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Jack Bogle is ready to declare victory.
Four decades ago, a mutual-fund industry graybeard warned him that he would “destroy the industry.” Mr. Bogle’s plan was to create a new mutual-fund company owned not by the founding entrepreneur and his partners but by the shareholders of the funds themselves.
This would keep overhead low for investors, as would a second part of his plan: an index fund that would mimic the performance of the overall stock market rather than pay genius managers to guess which stocks might go up or down.
Regards,
Ted
https://www.google.com/#q=Jack+Bogle:+The+Undisputed+Champion+of+the+Long+Run+wsj
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Regards,
Ted